Panda Security Acquires Canadian Franchise and Continues International Expansion

ORLANDO, Fla., Nov. 30, 2010 /PRNewswire/ -- Panda Security, the Cloud Security Company, today announced that it has acquired its exclusive distributor in Canada, continuing to propel the company's strategic international expansion and consolidation efforts. Since Investindustrial and other financial partners acquired the company in 2007, Panda Security has purchased eight of its franchises operating in key markets. The Canadian acquisition makes this the 14th subsidiary that the company wholly-owns, including offices in Austria, Brazil, Germany, Belgium, China, Spain, Finland, France, Holland, Japan, Sweden, UK and the USA.

Thus far in 2010, Panda has opened new franchises in Asia (Indonesia and Singapore); Latin America (Ecuador, Honduras, Nicaragua and Panama); and the Balkans (Malta and Romania). This expansion results in offices or franchises in 61 strategic markets and covers primary geographic areas of significant importance in the security sector. For a visual representation of Panda's global presence, please visit: http://www.flickr.com/photos/panda_security/5217429202/.

The acquisition of its Canadian distributor comes off the heels of the purchase of its Brazilian distributor earlier this year, as well as the recent launch of the Panda Cloud Business Unit in Silicon Valley. This new division is dedicated to developing its cloud-based solution business and works cooperatively with its U.S. headquarters in Orlando (Florida), as well as with another U.S. branch office in Los Angeles.

According to Juan Santana, CEO of Panda Security, "The security sector is dynamic and extremely competitive and we have been fortunate to enjoy a privileged position which allows us to continue with our strategic investment plan in two areas: international consolidation and technological innovation. Thanks to this strategic plan, the company has a scalable business model that allows us to sustain healthy growth."

About Panda Security

Founded in 1990, Panda Security is the world's leading provider of cloud-based security solutions, with products available in more than 23 languages and millions of users located in 195 countries around the World. Panda Security was the first IT security company to harness the power of cloud computing with its Collective Intelligence technology. This innovative security model can automatically analyze and classify thousands of new malware samples every day, guaranteeing corporate customers and home users the most effective protection against Internet threats with minimum impact on system performance. Panda Security has 61 offices throughout the globe with U.S. headquarters in Florida and European headquarters in Spain.

Panda Security collaborates with Special Olympics, WWF and Invest for Children as part of its Corporate Social Responsibility policy.

For more information, visit http://www.pandasecurity.com/.

SOURCE Panda Security